Border Security Force (BSF) wants more teeth to curb fake currency trade

Kolkata, Sept 28, 2010 (Calcutta Tube/IBNS) Border Security Force (BSF), who guards some 44000 kms border with Bangladesh, plans to approach the Union Home Ministry to bring a stringent law to curb smuggling of fake currencies into India.

“There is no specific regulation on fake currency offence in the country. And an offender if caught red handed with Indian fake notes is penalised under petty offence and easily get bail to start afresh crime,” according to BSF Director General Raman Srivastava.

Economists opined that random news reports of Indian fake currency seizure across Indian borders have dented confidence among the business as well and common people that severely affecting Indian economies.

An estimated data revealed that about 86 lakh worth of Indian fake notes had been seized by the BSF in past four years, tips of iceberg, from Indo-Bangla borders alone.

” This amount only from here and I do not know how much from other sides of the Indian borders in the western India,” the BSF chief said on Tuesday after returning from Dhaka.

He was in Dhaka to attend a six-day BSF-BDR’s bi-annual conference on border situation.

” It is very difficult to know the sources of fake notes as and when we catch a career he or she turned out to be living on border line. About thirty 30 per cent offender arrested is either woman or a minor. The real offender is remaining illusive. Because the fake notes offenders are mostly carrying agents work on paltry wages,” Srivastava said.

” The quality paper used for making fake notes is tremendous hi-tech. The manufacturing quality is also tremendous and we have to know the roots of sources to contain such crime,’ he said.

He said many agencies were working on to find out the sources but the existing laws in the country were not enough to deal such crime.

Srivastava said they would approach the Centre to enact a law so that all the agencies working on to contain the crime find support in curbing the menace.

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